Civic Intelligence

The Blake School

990 • Fiscal year 2023 • EIN 23-7243247

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 30, 2024

110 Blake Road SouthHopkins, MN 55343

(952) 988-3459

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

43rd percentile

0.22x

Higher debt load relative to assets than 43% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

66th percentile

0.81x

Higher debt load relative to revenue than 66% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

19th percentile

-8.5%

Higher net margin than 19% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

74th percentile

$793,567

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

22nd percentile

-0.9%

Faster asset growth than 22% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

28th percentile

-6.0%

Faster revenue growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Assets

Down

$200,319,449

Down $1,908,816 (-0.9%) from 2022

Net Assets

Down

$155,701,013

Down $1,553,852 (-1.0%) from 2022

Liabilities

Down

$44,618,436

Down $354,964 (-0.8%) from 2022

Revenue

Down

$55,284,624

Down $3,540,468 (-6.0%) from 2022

Expenses

Up

$59,961,695

Up $2,311,830 (+4.0%) from 2022

Net Income

Down

-$4,677,071

Down $5,852,298 (-498%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $88,285,784Liabilities 2010: $20,241,108Net Assets 2010: $68,044,6762010Assets 2011: $96,189,207Liabilities 2011: $20,117,924Net Assets 2011: $76,071,2832011Assets 2012: $96,856,490Liabilities 2012: $19,204,670Net Assets 2012: $77,651,8202012Assets 2013: $104,649,812Liabilities 2013: $18,929,093Net Assets 2013: $85,720,7192013Assets 2014: $111,391,609Liabilities 2014: $18,145,845Net Assets 2014: $93,245,7642014Assets 2015: $125,650,976Liabilities 2015: $16,641,095Net Assets 2015: $109,009,8812015Assets 2016: $134,390,804Liabilities 2016: $16,638,799Net Assets 2016: $117,752,0052016Assets 2017: $147,411,111Liabilities 2017: $16,972,076Net Assets 2017: $130,439,0352017Assets 2018: $168,609,656Liabilities 2018: $27,050,196Net Assets 2018: $141,559,4602018Assets 2019: $169,476,297Liabilities 2019: $25,989,208Net Assets 2019: $143,487,0892019Assets 2020: $169,661,407Liabilities 2020: $28,965,811Net Assets 2020: $140,695,5962020Assets 2021: $191,397,009Liabilities 2021: $22,283,810Net Assets 2021: $169,113,1992021Assets 2022: $202,228,265Liabilities 2022: $44,973,400Net Assets 2022: $157,254,8652022Assets 2023: $200,319,449Liabilities 2023: $44,618,436Net Assets 2023: $155,701,0132023Assets 2024: $200,752,358Liabilities 2024: $41,296,631Net Assets 2024: $159,455,7272024Assets 2025: $206,331,519Liabilities 2025: $41,157,836Net Assets 2025: $165,173,6832025

Highlighted filing

2023

Assets$200,319,449
Liabilities$44,618,436
Net Assets$155,701,013

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $36,604,9852010Expenses 2011: $37,422,6602011Expenses 2012: $38,398,3902012Expenses 2013: $38,343,7012013Revenue 2014: $44,531,802Expenses 2014: $41,918,321Net Income 2014: $2,613,4812014Revenue 2015: $63,732,471Expenses 2015: $43,007,558Net Income 2015: $20,724,9132015Revenue 2016: $59,340,341Expenses 2016: $44,963,340Net Income 2016: $14,377,0012016Revenue 2017: $57,868,985Expenses 2017: $46,951,793Net Income 2017: $10,917,1922017Revenue 2018: $59,314,189Expenses 2018: $48,974,341Net Income 2018: $10,339,8482018Revenue 2019: $51,399,563Expenses 2019: $50,952,941Net Income 2019: $446,6222019Revenue 2020: $47,600,427Expenses 2020: $50,992,211Net Income 2020: -$3,391,7842020Revenue 2021: $55,181,768Expenses 2021: $57,015,737Net Income 2021: -$1,833,9692021Revenue 2022: $58,825,092Expenses 2022: $57,649,865Net Income 2022: $1,175,2272022Revenue 2023: $55,284,624Expenses 2023: $59,961,695Net Income 2023: -$4,677,0712023Revenue 2024: $58,157,339Expenses 2024: $61,912,901Net Income 2024: -$3,755,5622024Revenue 2025: $62,197,304Expenses 2025: $64,856,060Net Income 2025: -$2,658,7562025

Highlighted filing

2023

Revenue$55,284,624
Expenses$59,961,695
Net Income-$4,677,071
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 30, 2024
Return Version
2022v5.0
Gross Receipts
$82,342,292
Mission and Program Overview

Mission

The blake school provides students with an excellent education in a diverse and supportive community. Students participate in academic, artistic and athletic activities in preparation for college, life-long learning, community services and lives as responsible world citizens.

To provide students with an excellent, academically challenging education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$79,426,299$94,842,519▲ $15,416,220
Investments Other Securities$50,343,573$49,435,632▼ $907,941
Investments in Publicly Traded Securities$36,266,357$43,213,384▲ $6,947,027
Savings and Temporary Cash Investments$25,396,155$6,342,523▼ $19,053,632
Cash and Non-Interest-Bearing Accounts$4,467,408$2,107,164▼ $2,360,244
Pledges and Grants Receivable$5,028,703$1,697,983▼ $3,330,720
Other Notes and Loans Receivable, Net$0$1,150,000▲ $1,150,000
Prepaid Expenses and Deferred Charges$483,914$856,911▲ $372,997
Accounts Receivable$786,165$636,083▼ $150,082
Inventories for Sale or Use$29,691$37,250▲ $7,559
Total Assets$202,228,265$200,319,449▼ $1,908,816
Other Assets Total$0--
Liabilities
Tax Exempt Bond Liabilities$33,231,476$32,688,651▼ $542,825
Accounts Payable and Accrued Expenses$6,189,013$6,782,149▲ $593,136
Deferred Revenue$4,319,100$4,312,818▼ $6,282
Other Liabilities$1,233,811$834,818▼ $398,993
Total Liabilities$44,973,400$44,618,436▼ $354,964
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$82,148,661$80,149,892▼ $1,998,769
Net Assets With Donor Restrictions$75,106,204$75,551,121▲ $444,917
Total Net Assets Fund Balance$157,254,865$155,701,013▼ $1,553,852
Total Liabilities and Net Assets / Fund Balance$202,228,265$200,319,449▼ $1,908,816

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$57,338,770$40,071,834$97,410,604
Other Land Buildings$27,691,617$232,702$27,924,319
Equipment$3,227,054$5,199,013$8,426,067
Leasehold Improvements$3,234,592$1,768,671$5,003,263
Land$3,350,486-$1,930,058
Other Securities$46,320,309--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$88,024,707$617,481▲ $2,538,382$3,693,123$87,487,447
2021$101,222,923$537,681▼ $10,218,867$3,517,030$88,024,707
2020$73,974,997$897,781▲ $29,480,036$3,129,891$101,222,923
2019$75,448,947$1,860,554▼ $306,290$3,028,214$73,974,997
2018$73,562,082$2,479,528▲ $2,382,569$2,975,232$75,448,947
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stavney Anne EHead of SchoolFT$569,148$224,419$793,567
Graybeal AnneAssociate Head of SchoolFT$240,549$73,811$314,360
Kelley Daniel aCFO/COOFT$271,191$43,080$314,271
Silvestri Joseph PDirector of AdmissionsFT$205,071$57,984$263,055
Boxer DavidChief Information OfficerFT$179,247$77,556$256,803
Ruggiero Joseph JUpper School DirectorFT$226,134$29,629$255,763
Schubring Rebecca LChief Advancement OfficerFT$220,060$35,538$255,598

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Ma Mortenson CompanyConstruction700 MEADOW LANE NORTH, Minneapolis, MN 55422$10,019,207
Taher INCFood Service5570 SMETANA DRIVE, Minnetonka, MN 55343$1,426,397
Hammel Green And Abrahamson INC Dba HgArchitecturalSDS 12-1861 PO BOX 86, Minneapolis, MN 55486-1861$882,307
Mcfarland Hanson INC Dba Commercial CleaJanitorial13950 RADIUM ST NW, Ramsey, MN 55303$372,521
Metropolitan Mechanical Contractors INCMechanical Services7450 FLYING CLOUD DRIVE, Eden Prairie, MN 55344$260,422
Revenue and Support

Revenue Composition

Contributions and Grants
$3,236,725
Program Service Revenue
$50,109,210
Investment Income
$1,930,947
Other Revenue
$7,742
All Other Contributions
$3,236,725
Change in Net Assets
$-4,677,071

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded20$280,821Stock Market Quotes
Other Non Cash Contri Table1$3,350Donor Value
Total Noncash Contributions21$284,171-

Audited Revenue Reconciliation

Revenue per Audited Statements
$45,617,497
Revenue Not Reported on Financial Statements
$9,667,127
Revenue Not Reported on Form 990
$3,366,449
Other Revenue Adjustments
$8,819,118
Total Revenue per Audited Statements
$48,983,946
Total Revenue per Form 990
$55,284,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$35,125,494
Other Expenses$16,017,083
Grants and Similar Amounts Paid$8,819,118
Total Fundraising Expense$2,155,201
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$22,559,947$2,600,779$1,113,094$26,273,820
Grants to Domestic Individuals$8,819,118--$8,819,118
Depreciation Depletion$3,767,621$471,539$24,302$4,263,462
Other Employee Benefits$3,376,415$566,790$120,187$4,063,392
Fees for Services Other$2,542,868$465,721$98,991$3,107,580
Payroll Taxes$1,574,935$217,197$93,557$1,885,689
Pension Plan Contributions$1,589,987$143,637$76,287$1,809,911
Occupancy$1,581,035$184,496$9,508$1,775,039
Current Officers, Directors, Trustees, and Key Employees$151,602$637,876$303,204$1,092,682
Fees for Service Investment Mgmnt Fees-$848,009-$848,009
Interest$684,203$85,632$4,413$774,248
Conferences and Meetings$354,073$201,751$92,747$648,571
Information Technology$433,546$193,975$4,452$631,973
Insurance$46,018$387,714-$433,732
Office Expenses$289,756$119,772$17,094$426,622
Other Expenses$59,695$122,365$70,907$252,967
Travel$201,557$16,519$15,490$233,566
Advertising$9,836$71,285$97,081$178,202
All Other Expenses-$152,596-$152,596
Fees for Services Legal-$101,986-$101,986
Fees for Services Accounting-$40,479-$40,479
Total Functional Expenses$50,012,425$7,794,069$2,155,201$59,961,695

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$59,961,695
Total Expenses per Audited Statements$50,537,798
Expenses per Audited Statements$50,294,568
Expenses Not Reported on Financial Statements$9,667,127
Other Expense Adjustments$8,819,118
Expenses Not Reported on Form 990$243,230
International Activity

International Summary

Offices
0
Employees
0
Spending
$41,485,685

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsN/a00$38,282,850
EuropeInvestmentsN/a00$2,976,977
East Asia and the PacificInvestmentsN/a00$225,858
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$616,611
Asset Retirement Obligation$174,000
Split-interest Agreements Payable$44,207

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Columbus2022-02-28$33,474,000Refunding + constructing an early learning center

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$33,474,000$13,228,751$551,000$245,249

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

The executive committee shall be comprised of the officers of the board of trustees and shall serve as the head of school compensation and evaluation committee. When completion of the head of school evaluation extends beyond june 30, for the purposes of completing this task the committee's work may extend into the three months following their formal year of service.

Form 990, Part VI, Section B, Line 11B

Prior to its filing, the form 990 was reviewed by the chief financial and operating officer, the head of school, and the finance committee before being provided to all trustees for approval.

Form 990, Part VI, Section B, Line 12C

The school's conflict of interest policy applies to its trustees, officers, administrators, faculty and other employees. When a potential conflict of interest exists, the person with the conflict notifies the chair of the board of trustees or the head of school so they may take appropriate actions. A trustee who is directly or indirectly involved in a potential conflict of interest is not allowed to vote on any action of the board regarding the potential conflict and is not counted in determining the existence of a quorum at any meeting of the board where the potential conflict is considered. Proceedings related to conflicts of interest are documented in the meeting minutes or as otherwise appropriate.

Form 990, Part VI, Section B, Line 15

The compensation packages for the head of school and other significant positions designated by the school (including chief financial and operating officer; director of institutional advancement; associate head of school; and director of admissions and financial assistance) are each reviewed by the compensation committee of the board annually. The committee is comprised entirely of independent persons and utilizes salary and benefit survey data obtained from various local, regional and national sources. Minutes from the meetings are maintained and approved by the committee. This process was most recently undertaken during the 2022-2023 school year for the head of school and other officers and highly compensated employees.

Form 990, Part VI, Section C, Line 19

The school's governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Blake School
EIN
23-7243247
Phone
9529883459
Address
110 BLAKE ROAD SOUTH, HOPKINS, MN 55343

Signing Officer

Name
Dr Anne Stavney
Title
Head of School
Phone
9529883451
Signed
2024-01-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Anne Stavney
Formed
1900
Legal Domicile
Mn
Voting Board Members
18
Independent Board Members
18
Employees
671
Volunteers
400

Preparer

Firm
Cliftonlarsonallen Llp
Address
8215 GREENWAY BOULEVARD SUITE 600, MIDDLETON, WI 53562
Preparer
Kimberly Anderson
Phone
6086628600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of beneficial interest in trust 345,104. Change in value of split-interest agreements 17,151.

Financial Statement Notes

PART III, LINE 1A:

General artwork hung for display in around the school.

PART V, LINE 4:

The school's endowment consists of approximately 300 funds that are used to provide financial aid and instructional programs for students, to provide development opportunities for faculty, and to support school operations.

PART X, LINE 2:

The school qualifies as a tax-exempt nonprofit corporation under section 501(c)(3) of the internal revenue code and similar statutes of minnesota law. Accordingly, income taxes have not been recorded in the accompanying financial statements. The school has not taken any uncertain tax positions that require recognition under applicable accounting guidance.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of beneficial interest in trust 345,104. Change in value of split-interest agreements 17,151. Rental expenses 243,230.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 8,819,118.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

RENTAL EXPENSES 243,230.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 8,819,118.

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IRS990/Desc0THE BLAKE SCHOOL IS AN INDEPENDENT PRE-KINDERGARTEN THROUGH GRADE 12 SCHOOL SERVING STUDENTS THROUGHOUT THE TWIN CITIES WITH CAMPUSES LOCATED IN MINNEAPOLIS, HOPKINS AND WAYZATA. ENROLLMENT IN 2022-2023 WAS 1,350 STUDENTS. IN SUPPORT OF ITS COMMITMENT TO CULTURAL AND SOCIOECONOMIC DIVERSITY AS BEING AN ESSENTIAL PART OF ITS EDUCATIONAL GOALS, THE SCHOOL GRANTED $8,140,432 IN FINANCIAL AID TO 341 STUDENTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL
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IRS990/Form990PartVIISectionAGrp/TitleTxt6CHIEF ADVANCEMENT OFFICER
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$206$41.2$165$62.2$64.9$2.66
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$201$41.3$159$58.2$61.9$3.76
2023Detailed filing. Detailed filing data is available for this year.$200$44.6$156$55.3$60.0$4.68
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$202$45.0$157$58.8$57.6$1.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$22.3$169$55.2$57.0$1.83
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$170$29.0$141$47.6$51.0$3.39
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$169$26.0$143$51.4$51.0$0.45
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$169$27.1$142$59.3$49.0$10.3
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$147$17.0$130$57.9$47.0$10.9
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$134$16.6$118$59.3$45.0$14.4
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$126$16.6$109$63.7$43.0$20.7
2014Detailed filing. Detailed filing data is available for this year.$111$18.1$93.2$44.5$41.9$2.61
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$105$18.9$85.7$38.3
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$96.9$19.2$77.7$38.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$96.2$20.1$76.1$37.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.3$20.2$68.0$36.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)3 • $100M-$250M nonprofits